Ayr Strategies Files Audited 2019 Financial Statements
March 24 2020 - 10:15AM
Ayr Strategies Inc. (CSE: AYR.A, OTCQX: AYRSF) (“Ayr”), a
vertically-integrated cannabis multi-state operator (MSO) with a
presence in the western and eastern U.S., has filed its audited
2019 annual financial statements on SEDAR.
“We are pleased to release our audited financial statements at
this early date, which speaks to the strength of our people and the
robust operational and control framework we established in 2019,”
said Ayr CEO Jonathan Sandelman. “Today, we have the personnel,
systems and processes in place to build upon the foundation we laid
over the past year. Our substantial organic growth plans are fully
funded, and we have every expectation of capitalizing on M&A
opportunities, which are only becoming more attractive.
“We remain on track to begin sales from our recently expanded
cultivation in Massachusetts and Nevada, where we more than doubled
our canopy from 27,000 square feet to 63,000 square feet. Combined
with our strong balance sheet and ongoing cash flow generation, we
are well-positioned to deliver strong growth in 2020.”
Forward-looking statementsCertain information
contained in this news release may be forward-looking statements
within the meaning of applicable securities laws. Forward-looking
statements are often, but not always, identified by the use of
words such as “target”, “expect”, “anticipate”, “believe”,
“foresee”, “could”, “estimate”, “goal”, “outlook”, “intend”,
“plan”, “seek”, “will”, “may” and “should” and similar expressions
or words suggesting future outcomes. This news release includes
forward-looking information and statements pertaining to, among
other things, Ayr’s future growth plans. Numerous risks and
uncertainties could cause the actual events and results to differ
materially from the estimates, beliefs and assumptions expressed or
implied in the forward-looking statements, including, but not
limited to: the impact of the COVID-19 virus; anticipated
strategic, operational and competitive benefits may not be
realized; events or series of events may cause business
interruptions; required regulatory approvals may not be obtained;
acquisitions may not be able to be completed on satisfactory terms
or at all; and Ayr may not be able to raise additional capital.
Among other things, Ayr has assumed that its businesses will
operate as anticipated, that it will be able to complete
acquisitions on reasonable terms, and that all required regulatory
approvals will be obtained on satisfactory terms and within
expected time frames.
About Ayr StrategiesAyr Strategies (“Ayr”) is
an expanding vertically integrated, U.S. multi-state cannabis
operator, focusing on high-growth markets. With anchor operations
in Massachusetts and Nevada, the company cultivates and
manufactures branded cannabis products for distribution through its
network of retail outlets and through third-party stores. Ayr
strives to enrich and enliven consumers’ experience every day –
helping them to live their best lives, elevated.
Ayr’s leadership team brings proven expertise in growing
successful businesses through disciplined operational and financial
management, and is committed to driving positive impact for
customers, employees and the communities they touch. For more
information, please visit www.ayrstrategies.com.
Company Contact:Jennifer Drake,
COOT: (212) 299-7606
Investor Relations Contact:Sean
Mansouri, CFA or Cody SlachGateway Investor RelationsT: (949)
574-3860Email: ayr@gatewayir.com
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